07/27 MNX Iron Butterfly

MNX finally showing signs of slowing down. We did go down a little bit Today, the daily chart looks "topish" to me, but we never know. Right now, my plan is to continue rolling the short 150 Calls by using a debit spread. If we keep going up, even if we stay at these levels, the 150s are way deep in the money, they're what Dan Harvey calls "delta hogs". I'm removing them slowly to avoid exposing the position to a big gamma risk, this may hurt if we go down fast from here.



Position's History
07/23 MNX Iron Butterfly
07/22 MNX Iron Butterfly
7/21 MNX Iron Butterfly
07/20 MNX Iron Butterfly
07/17 MNX Iron Butterfly
07/16 MNX Iron Butterfly *New*

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